New Construction Loans In New York
Asset Based Lending Makes NY New Construction Easy.
Experienced real estate investors understand how much planning and energy new construction projects require to be successful, so they need a lender they can trust from start to finish. Asset Based Lending specializes in New York investor new construction loans, making the process as fast and simple as possible. We can approve a loan in as fast as 24 hours and fund in as little as three days, so your project can begin as soon as possible and never experience a financial delay. Our flexible underwriting allows us to tailor a program that matches your exact project details, giving you a financing option that helps you maximize your business goals in the least amount of time.
With over a decade of providing New York hard money loans, ABL is committed to helping builders expand their real estate business quickly and effectively. If you’re ready to start your next successful new construction project, contact us today for construction loan rates.
Success Story: Brooklyn, NY Gut Renovation
| Purchase: | $1,400,000 | Loan Amount: | $1,450,000 |
| Renovation: | $400,000 | Sale Price: | $2,150,000 |
| Experience | Credit Score Minimum | Interest Rate | Points | Advance Rate On Purchase | Advance Rate On Construction | ARV | Property Types | Pre-Pay Penalty | Extensions | Blanket Loans | Loan Size | Loan Terms |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High | 660 | 9.99%-15% | 0-2% | Up to 70% Land Value | 100% | Up to 67.5% | Single Family, Multi Family, Mixed Use | No | Available | Yes | $100K to $3.5M | 12 Months |
Closing Speed
Underwriting Flexibility
Flexible underwriting criteria allows fix and flip investors to secure funding not available to them through other institutions.
Competitive Rates
New construction investments for experienced contractors and investors are funded at interest rates of 9.99%–15% and 0–2% points. Loan amounts range from $100K to $3.5M.
New York Needs New Construction
With the demand for New York suburban housing on the rise but supply remaining low, now may be the best time to start your new construction project. The desire of home buyers to remain close to cultural centers and travel hubs makes the NYC boroughs and surrounding counties a lucrative option for new housing construction. According to Statista, New York City is the third highest priced residential property market in the world, allowing investors to maximize their short term profits. Furthermore, statewide housing inventory dropped over 20% from 2019 to 2020, meaning new construction can help meet the state’s continued demand. Based on the data, NY new construction will remain a hot commodity for the foreseeable future.
Our team of experts provide new construction loans to the following New York counties: Nassau, Suffolk, Rockland, Orange, Westchester, and each New York City borough. If you’re looking for new construction loans in New York, Asset Based Lending is ready to help fund and advise on your next successful project.
Why Choose Hard Money For New York New Construction Loans
New York real estate investors know that research is key when choosing their lending option, especially for new construction. Choosing the right lender can make the difference between a long process with funding delays or a smooth process that provides funds right when they’re needed. Some investors want to work with banks for the reliability and security, but banks typically avoid new construction projects due to the high level of risk and variance throughout the project’s lifespan. Other investors prefer to borrow from private money lenders due to their flexibility, but these lenders also tend to pull back if problems arise and won’t always guarantee funds within acceptable timeframes. Hard money loans from Asset Based Lending are a good option for new construction loans in NYC since funds are dispersed in a timely manner, and our flexible underwriting allows loans to match your project perfectly.
New York new construction is a competitive market, so borrowers need a competitive and reliable lender. Asset Based Lending is the best hard money lender New York can offer, so contact us today and experience why we have so many successful repeat borrowers.
Choosing Asset Based Lending For Your New Construction Loan
By this point, you’ve decided to use hard money loans for new construction. The question is, why choose Asset Based Lending? ABL offers the most reliable and flexible residential new construction loans in New York to experienced real estate investors. Our team has been providing loans to the New York area for over ten years, making us experts in the market and specialists in the new construction field. Our construction loan lenders in New York provide you assistance and advice from start to finish, as well as ensuring your funds are accessible right when you need them so there’s no project delays. Plus, there’s no early payment penalties for our loans, meaning you can pay off your loan early and begin your next project even sooner.
ABL is dedicated to being the most flexible and reliable New York construction loan lender in order to help the widest range of real estate investors. Our passion for great deals and even better borrower relationships are evident from our years of success and high repeat borrower numbers. If you’re ready to apply for hard money construction loans and grow your real estate business, contact us today.
Close In 10 Days Or Less. Rates Start As Low As 4.99%.
